Mesaieed Petrochemical Holding Company (MPHC), one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products, yesterday announced that it has received income tax exemption from the Government.
As per the exemption, effective from January 1, 2019, MPHC’s shareholding in all of its Joint Ventures will be fully exempt from any income tax liability.
In line with the historical tax exemption mechanism, it has also been approved that MPHC will be entitled to a tax refund of QR 170 million pertaining to the financial year 2018. This will enhance MPHC’s overall financial position and profitability, which would lead to improved shareholder value.
